GBP sold off last week on comments from Governor Mark Carney - "Bank of England may raise rate rises later than expected".
Minus the comment from Carney we saw last week the trade deficit decreased to £8.4 billion.
With the spill over from Europe caused by QE - we could start seeing an uptick in Business investment and product/services data.

Poor Earnings data added to the correction of this pair. I believe the earnings data should improve over the year.

A side note - We have elections in the UK putting a shadow on GBP - if the conservatives win there is a possibility of Great Britain leaving the European Union.